December 2018 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the December newsletter that looks back at auction activity in November and preceding periods. As 2018 draws to a close it is a familiar story below, with every one of the 36 measurable metrics down on their comparative period last year. 1,654 lots were offered and 1,146 lots were sold last month, down 12% and 14% respectively, whilst total auction revenues shrunk by 17%, from £196.4M to £162.7M.

May I take this opportunity to wish you all a peaceful holiday and a prosperous new year. As always I appreciate any feedback or suggestions you might have on our services and newsletters.

National Auction Analysis

As can be seen below, double-digit falls are prevalent across both sectors of the industry. Residential lots offered was down 11% last month, to 1,476 lots, whilst revenues dropped 16% to £147.1M. Commercial lots offered fell by almost 18% to 178 lots, with revenues decreasing by over 27% to £15.5M.

The rolling yearly figures highlight the market's struggles over the past year. There were almost 1,300 fewer residential sales in the last 12 months when compared with the previous year (down 6.2%), whilst commercial sales dropped by over 450 lots in the same period (down 10.3%).

Overall

N.B. Figures in brackets denote the comparative period last year

November 2018

September 2018 to November 2018

December 2017 to November 2018

Lots Offered

1,654 (1,874)

▼ 11.7%

8,525 (9,389)

▼ 9.2%

31,704 (32,915)

▼ 3.7%

Lots Sold

1,146 (1,336)

▼ 14.2%

6,104 (6,993)

▼ 12.7%

23,448 (25,180)

▼ 6.9%

Percent Sold

69.3% (71.3%)

▼ 2.8%

71.6% (74.5%)

▼ 3.9%

74.0% (76.5%)

▼ 3.3%

Total Raised

£162.7M (£196.4M)

▼ 17.2%

£1,031.3M (£1,239.9M)

▼ 16.8%

£4,129.4M (£4,542.4M)

▼ 9.1%

Residential

N.B. Figures in brackets denote the comparative period last year

November 2018

September 2018 to November 2018

December 2017 to November 2018

Lots Offered

1,476 (1,658)

▼ 11.0%

7,156 (7,871)

▼ 9.1%

26,458 (27,357)

▼ 3.3%

Lots Sold

1,025 (1,169)

▼ 12.3%

5,121 (5,815)

▼ 11.9%

19,505 (20,786)

▼ 6.2%

Percent Sold

69.4% (70.5%)

▼ 1.6%

71.6% (73.9%)

▼ 3.1%

73.7% (76.0%)

▼ 3.0%

Total Raised

£147.1M (£175.0M)

▼ 15.9%

£768.7M (£885.1M)

▼ 13.2%

£2,969.5M (£3,143.0M)

▼ 5.5%

Commercial

N.B. Figures in brackets denote the comparative period last year

November 2018

September 2018 to November 2018

December 2017 to November 2018

Lots Offered

178 (216)

▼ 17.6%

1,369 (1,518)

▼ 9.8%

5,246 (5,558)

▼ 5.6%

Lots Sold

121 (167)

▼ 27.5%

983 (1,178)

▼ 16.6%

3,943 (4,394)

▼ 10.3%

Percent Sold

68.0% (77.3%)

▼ 12.0%

71.8% (77.6%)

▼ 7.5%

75.2% (79.1%)

▼ 4.9%

Total Raised

£15.5M (£21.4M)

▼ 27.5%

£262.6M (£354.9M)

▼ 26.0%

£1,159.9M (£1,399.4M)

▼ 17.1%

Regional Auction Analysis

As is usually the case, variations across all the measurable parameters can be seen across the regions.

N.B. Figures in brackets denote the comparative period last year

East Anglia

September 2018 to November 2018

Total

Residential

Commercial

Lots Offered

267 (269)

▼ 0.7%

217 (201)

▲ 8.0%

50 (68)

▼ 26.5%

Lots Sold

195 (198)

▼ 1.5%

152 (141)

▲ 7.8%

43 (57)

▼ 24.6%

Percent Sold

73.0% (73.6%)

▼ 0.8%

70.0% (70.1%)

▼ 0.1%

86.0% (83.8%)

▲ 2.6%

Total Raised

£32.0M (£46.7M)

▼ 31.4%

£22.9M (£21.9M)

▲ 4.8%

£9.1M (£24.8M)

▼ 63.4%

East Midlands

September 2018 to November 2018

Total

Residential

Commercial

Lots Offered

664 (713)

▼ 6.9%

552 (608)

▼ 9.2%

112 (105)

▲ 6.7%

Lots Sold

471 (549)

▼ 14.2%

402 (468)

▼ 14.1%

69 (81)

▼ 14.8%

Percent Sold

70.9% (77.0%)

▼ 7.9%

72.8% (77.0%)

▼ 5.5%

61.6% (77.1%)

▼ 20.1%

Total Raised

£71.0M (£83.5M)

▼ 15.0%

£53.5M (£59.3M)

▼ 9.9%

£17.5M (£24.1M)

▼ 27.5%

London

September 2018 to November 2018

Total

Residential

Commercial

Lots Offered

510 (738)

▼ 30.9%

469 (672)

▼ 30.2%

41 (66)

▼ 37.9%

Lots Sold

356 (504)

▼ 29.4%

328 (454)

▼ 27.8%

28 (50)

▼ 44.0%

Percent Sold

69.8% (68.3%)

▲ 2.2%

69.9% (67.6%)

▲ 3.4%

68.3% (75.8%)

▼ 9.9%

Total Raised

£168.1M (£232.7M)

▼ 27.8%

£152.0M (£200.2M)

▼ 24.1%

£16.1M (£32.5M)

▼ 50.4%

North-East

September 2018 to November 2018

Total

Residential

Commercial

Lots Offered

784 (745)

▲ 5.2%

718 (694)

▲ 3.5%

66 (51)

▲ 29.4%

Lots Sold

538 (538)

▼ 0.0%

495 (506)

▼ 2.2%

43 (32)

▲ 34.4%

Percent Sold

68.6% (72.2%)

▼ 5.0%

68.9% (72.9%)

▼ 5.5%

65.2% (62.7%)

▲ 4.0%

Total Raised

£45.9M (£36.2M)

▲ 26.8%

£34.2M (£31.5M)

▲ 8.7%

£11.7M (£4.8M)

▲ 146.4%

North-West

September 2018 to November 2018

Total

Residential

Commercial

Lots Offered

1,364 (1,464)

▼ 6.8%

1,127 (1,257)

▼ 10.3%

237 (207)

▲ 14.5%

Lots Sold

972 (1,069)

▼ 9.1%

809 (915)

▼ 11.6%

163 (154)

▲ 5.8%

Percent Sold

71.3% (73.0%)

▼ 2.3%

71.8% (72.8%)

▼ 1.4%

68.8% (74.4%)

▼ 7.5%

Total Raised

£100.9M (£99.1M)

▲ 1.8%

£71.7M (£70.8M)

▲ 1.3%

£29.2M (£28.4M)

▲ 3.0%

North-West Home Counties

September 2018 to November 2018

Total

Residential

Commercial

Lots Offered

356 (391)

▼ 9.0%

303 (304)

▼ 0.3%

53 (87)

▼ 39.1%

Lots Sold

250 (287)

▼ 12.9%

211 (219)

▼ 3.7%

39 (68)

▼ 42.6%

Percent Sold

70.2% (73.4%)

▼ 4.4%

69.6% (72.0%)

▼ 3.3%

73.6% (78.2%)

▼ 5.9%

Total Raised

£71.2M (£124.9M)

▼ 42.9%

£48.6M (£77.0M)

▼ 36.8%

£22.6M (£47.9M)

▼ 52.8%

Northern Ireland

September 2018 to November 2018

Total

Residential

Commercial

Lots Offered

71 (239)

▼ 70.3%

65 (198)

▼ 67.2%

6 (41)

▼ 85.4%

Lots Sold

29 (147)

▼ 80.3%

29 (117)

▼ 75.2%

0 (30)

▼ 100.0%

Percent Sold

40.8% (61.5%)

▼ 33.7%

44.6% (59.1%)

▼ 24.5%

0.0% (73.2%)

▼ 100.0%

Total Raised

£2.0M (£12.6M)

▼ 83.8%

£2.0M (£9.9M)

▼ 79.4%

£0.0M (£2.7M)

▼ 100.0%

Scotland

September 2018 to November 2018

Total

Residential

Commercial

Lots Offered

265 (290)

▼ 8.6%

199 (213)

▼ 6.6%

66 (77)

▼ 14.3%

Lots Sold

193 (177)

▲ 9.0%

136 (118)

▲ 15.3%

57 (59)

▼ 3.4%

Percent Sold

72.8% (61.0%)

▲ 19.3%

68.3% (55.4%)

▲ 23.3%

86.4% (76.6%)

▲ 12.8%

Total Raised

£17.9M (£19.1M)

▼ 6.5%

£8.3M (£6.5M)

▲ 29.0%

£9.5M (£12.7M)

▼ 24.7%

South-East Home Counties

September 2018 to November 2018

Total

Residential

Commercial

Lots Offered

1,063 (1,204)

▼ 11.7%

884 (1,007)

▼ 12.2%

179 (197)

▼ 9.1%

Lots Sold

735 (904)

▼ 18.7%

608 (745)

▼ 18.4%

127 (159)

▼ 20.1%

Percent Sold

69.1% (75.1%)

▼ 8.0%

68.8% (74.0%)

▼ 7.0%

70.9% (80.7%)

▼ 12.1%

Total Raised

£173.9M (£204.9M)

▼ 15.1%

£127.1M (£143.8M)

▼ 11.6%

£46.8M (£61.1M)

▼ 23.4%

South-West

September 2018 to November 2018

Total

Residential

Commercial

Lots Offered

669 (706)

▼ 5.2%

478 (486)

▼ 1.6%

191 (220)

▼ 13.2%

Lots Sold

491 (551)

▼ 10.9%

343 (375)

▼ 8.5%

148 (176)

▼ 15.9%

Percent Sold

73.4% (78.0%)

▼ 5.9%

71.8% (77.2%)

▼ 7.0%

77.5% (80.0%)

▼ 3.1%

Total Raised

£108.0M (£109.1M)

▼ 1.0%

£71.3M (£78.3M)

▼ 8.9%

£36.7M (£30.8M)

▲ 19.1%

Wales

September 2018 to November 2018

Total

Residential

Commercial

Lots Offered

579 (557)

▲ 3.9%

471 (449)

▲ 4.9%

108 (108)

▼ 0.0%

Lots Sold

407 (408)

▼ 0.2%

338 (333)

▲ 1.5%

69 (75)

▼ 8.0%

Percent Sold

70.3% (73.2%)

▼ 4.0%

71.8% (74.2%)

▼ 3.2%

63.9% (69.4%)

▼ 7.9%

Total Raised

£42.4M (£40.3M)

▲ 5.1%

£30.5M (£28.0M)

▲ 8.6%

£11.9M (£12.3M)

▼ 2.8%

West Midlands

September 2018 to November 2018

Total

Residential

Commercial

Lots Offered

1,198 (1,103)

▲ 8.6%

1,050 (948)

▲ 10.8%

148 (155)

▼ 4.5%

Lots Sold

885 (891)

▼ 0.7%

775 (761)

▲ 1.8%

110 (130)

▼ 15.4%

Percent Sold

73.9% (80.8%)

▼ 8.5%

73.8% (80.3%)

▼ 8.1%

74.3% (83.9%)

▼ 11.4%

Total Raised

£136.9M (£141.4M)

▼ 3.2%

£100.5M (£98.8M)

▲ 1.7%

£36.4M (£42.6M)

▼ 14.6%

Yorkshire and The Humber

September 2018 to November 2018

Total

Residential

Commercial

Lots Offered

735 (970)

▼ 24.2%

623 (834)

▼ 25.3%

112 (136)

▼ 17.6%

Lots Sold

582 (770)

▼ 24.4%

495 (663)

▼ 25.3%

87 (107)

▼ 18.7%

Percent Sold

79.2% (79.4%)

▼ 0.3%

79.5% (79.5%)

▼ 0.0%

77.7% (78.7%)

▼ 1.3%

Total Raised

£60.9M (£89.3M)

▼ 31.7%

£45.9M (£59.2M)

▼ 22.3%

£15.0M (£30.1M)

▼ 50.2%

Your Comments

If you would like to comment on anything in this email, or have any suggestions for future newsletters, we would like to hear from you. So please email us anytime.

A word from the editor

As ever I welcome any feedback you may have regarding the newsletters or indeed the wider market in general.